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with me dmitri medvedev and co a large loophole has been discovered in greece's tax system and battled money amounts to twenty eight billion euros per year and that's equal to around fifteen percent of the troubled economies g.d.p. the international monetary fund is blaming businessmen government officials and even actors for neglecting to pay what the country but apparently the fund believes it is impossible to return all of that money and suggest to write down fifty percent of this same time it's also adopting a law to automate the system suggest adopting a law which would be ducked the necessary sum from the embezzlers bank account. rise quickly take a look at the markets it was a very very quiet day of course most market closed two steps forward one step back for russia's ruble it has lost around three quarters of watergate and on monday against both the dollar and the euro now on the russian markets it seems not a creature was stirring not even a mouse russia traditionally celebrates christmas on the seventh of january so tuesday was a working day but because it was pretty much th
with me dmitri medvedev and co a large loophole has been discovered in greece's tax system and battled money amounts to twenty eight billion euros per year and that's equal to around fifteen percent of the troubled economies g.d.p. the international monetary fund is blaming businessmen government officials and even actors for neglecting to pay what the country but apparently the fund believes it is impossible to return all of that money and suggest to write down fifty percent of this same time...
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Dec 21, 2012
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greece is at the front line of the migration challenge. more than 80% of migrants into into the european union and they do go through greece. thousands end up in detention camps and many of those who are not detained spent days and nights waiting to apply for asylum. other recent months, there has been a wave of attacks on immigrants, a number of them being stabbed to death. it is not just the illegal migrants or asylum seekers feeling under attack. some of them are feeling targeted even when they are there legally. this racially motivated attack coincides with the rise in popularity of a far right parties like the golden who blame some of the country's problems on illegal migration. greece, which is in the grips of its worst recession in decades, has called on do you for more help. the country says that they bear the disproportionate weight of the illegal immigration burden. >> as 2012 draws to a close, few countries have expressed as much change this year as burma there are moves to end the armed conflicts which have plagued burma since
greece is at the front line of the migration challenge. more than 80% of migrants into into the european union and they do go through greece. thousands end up in detention camps and many of those who are not detained spent days and nights waiting to apply for asylum. other recent months, there has been a wave of attacks on immigrants, a number of them being stabbed to death. it is not just the illegal migrants or asylum seekers feeling under attack. some of them are feeling targeted even when...
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kona welcome to a business see a large loop oil has been discovered in greece's tax system embezzled money amounts to twenty eight billion euros per year that's equal to fifteen percent of the troubled economies g.d.p. now the international monetary fund is blaming businessmen government officials and even actors for neglecting to pay what they owe the country but apparently the fund believes it is impossible to return all of that money and suggests a write down fifty percent of it now while also adopting a law to automate the system deducting the from the embezzlers a bank account. of what's happening on the markets which we actually managed to show a bit earlier in the program or two steps forward one step back for russia is the ruble it has lost around three quarters of monday's gains versus both the dollar and the euro now on the russian stock markets it seems indeed not a creature was stirring not even a mouse as i said before russia traditionally celebrates christmas on the seventh of january so tuesday was a working day because it was pretty much the only market trading very l
kona welcome to a business see a large loop oil has been discovered in greece's tax system embezzled money amounts to twenty eight billion euros per year that's equal to fifteen percent of the troubled economies g.d.p. now the international monetary fund is blaming businessmen government officials and even actors for neglecting to pay what they owe the country but apparently the fund believes it is impossible to return all of that money and suggests a write down fifty percent of it now while...
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Dec 14, 2012
12/12
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to do that, greece must first settle it unpaid bills. >> of the 9 billion euros that greece still owes, we will pay back everything by 2013 in accordance with the troika deal. >> so, for now, greeks can breathe easier. eurozone finance ministers approved another round of bailout funds set to be released in the coming days. >> to syria now. for the first time, russia, a key ally of damascus, has said the assad regime is losing control and that a rebel victory can no longer be ruled out. >> thursday, dozens of people were killed in bombings in and around the syrian capital. a car bomb killed the most -- claimed the most lives. >> it is for this building and and several others. reports by syria's state run -- and destroyed -- it destroyed this building and damaged several others. the government said the bombing was a terrorist attack, a term syria's president, basher of assaad -- bashar al-assad, uses to describe rebel activity. russia has acknowledge the rebels might defeat the government. until now, the kremlin has been a firm ally of the syrian regime. after recent developments, a defe
to do that, greece must first settle it unpaid bills. >> of the 9 billion euros that greece still owes, we will pay back everything by 2013 in accordance with the troika deal. >> so, for now, greeks can breathe easier. eurozone finance ministers approved another round of bailout funds set to be released in the coming days. >> to syria now. for the first time, russia, a key ally of damascus, has said the assad regime is losing control and that a rebel victory can no longer be...
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germany will be giving more financial aid towards greece we saw m.p.'s voting with four hundred seventy three saying yes to this aid package one hundred saying no and eleven stand shin's now what this does mean no and it's been talked about throughout the week is next year alone it could cost germany over seven hundred million euros but we are seeing the politicians at least giving their support financial support towards greece but that support isn't being particularly backed up by some of the electorate here people on the streets of germany suggesting that perhaps greece should be left to its own devices. that is enough because we won't see this money ever again. at some point it should be stopped it's high time they were capable of helping themselves we're ok for now but some day we could also go broke there's arlen specter to vote this is all use we have already given at least so much more and they should start going on the starboard side and there's nothing more. well they were people speaking just outside of the reichstag but that seems to be refle
germany will be giving more financial aid towards greece we saw m.p.'s voting with four hundred seventy three saying yes to this aid package one hundred saying no and eleven stand shin's now what this does mean no and it's been talked about throughout the week is next year alone it could cost germany over seven hundred million euros but we are seeing the politicians at least giving their support financial support towards greece but that support isn't being particularly backed up by some of the...
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you're of reduced relieved as greece is going through with it buybacks with athens now qualifying for billions more in bailout cash. and the u.i. a nuclear watchdog renews talks with iran hoping to examine facilities they believe the secret development despite little evidence to back this is patience. it's eleven am here in moscow you're live with us on our team washington's decision to brand a leading a rebel group in syria as a terrorist organization sparks a chorus of al drage among others who enjoyed america's overwhelming support the key rebel coalition recognized by the u.s. as the sole representative of the syrian people has thrown its weight behind the al qaeda linked to al nusra front which is going to change again explains. it's clear that washington is trying to distance itself from extremists in syria they have designated a front a terrorist organization it's thought to be one of the most aggressive and ruthless groups currently involved in the conflict washington's decision to call them terrorists this seen as more of a symbolic move because many other fighters in syria p
you're of reduced relieved as greece is going through with it buybacks with athens now qualifying for billions more in bailout cash. and the u.i. a nuclear watchdog renews talks with iran hoping to examine facilities they believe the secret development despite little evidence to back this is patience. it's eleven am here in moscow you're live with us on our team washington's decision to brand a leading a rebel group in syria as a terrorist organization sparks a chorus of al drage among others...
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greece has given its financial backers something of an early christmas present by buying back a chunk of its debt from them however when they take the wrapping paper off that gift they don't find it's a little less which they've asked for as part of a bone to buy back scheme which saw athens buy back its own problems at around thirty four percent of their original value recording to the french finance minister but that should be enough in order to see them receive the next round of bailout money that the country's been crying out for in fact they've been waiting for that cash since june the international monetary fund had expected greece to be able to get its debt situation down to one hundred and twenty four percent of overall economic output by twenty twenty now that really does not seem likely right now this is cause the i.m.f. to say well we won't be lending any more money to any countries that can't pay back their debts however there is a dangerous precedent with this in terms of greece be able to return the money of course private investors private creditors see greece well a lo
greece has given its financial backers something of an early christmas present by buying back a chunk of its debt from them however when they take the wrapping paper off that gift they don't find it's a little less which they've asked for as part of a bone to buy back scheme which saw athens buy back its own problems at around thirty four percent of their original value recording to the french finance minister but that should be enough in order to see them receive the next round of bailout...
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Dec 29, 2012
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no mosques have been built in athens since christian greece gained independence in 1832, the omi e.u. capital without. but could that change? this was the site chosen for the first mosque. but previous promises have come to nothing in there is a financial crisis. >> there was a fear in the greek society about the construction of a mosque. we must overcome these fears. it is the commitment of the greek state about the construction and commitment. >> there is still resistance. well over 90% of greeks are orthodox christians. while many accept the moscow plan, many are opposed, resentful of mass migration here. >> greece fought hundreds of centuries of terrorism -- of tyranny by muslims. we totally oppose this. >> pride in their own faith is clear, but can they resist the respect of the other? this is a country where religion is intrinsic to national identity, where church and state are intimately linked. the questions for today's greece is what kind of state is willing to become, how tolerant, how multicultural. looking,ore inward more fearful, but greece must now decide whether to exte
no mosques have been built in athens since christian greece gained independence in 1832, the omi e.u. capital without. but could that change? this was the site chosen for the first mosque. but previous promises have come to nothing in there is a financial crisis. >> there was a fear in the greek society about the construction of a mosque. we must overcome these fears. it is the commitment of the greek state about the construction and commitment. >> there is still resistance. well...
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Dec 23, 2012
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will eventually end up like greece? >> well, look, if i could just answer that, i'm an optimist on america. i believe in america. i'd buy it, you know, if america was a publicly-traded company, i'd buy the stock every day. this country and this economy is tremendously resilient. and one of the great things, i think, about our book is it's got ideas that require action in washington, it's also at state level, individual level and there's some business and corporate level. so, you know, what are the odds? i would, you know, i'm an on the optimist. i would say we will get back to growth. >> kevin? >> the oecd, which is an organization that studies large, developed nations just did a big study to try to identify how big the policy challenges facing the nations around the world are. and they estimated something called the fiscal adjustment, and the fiscal adjustment for greece that they need -- which is either the immediate tax increase or the immediate reduction in spending necessary to make it so that their economy doesn't
will eventually end up like greece? >> well, look, if i could just answer that, i'm an optimist on america. i believe in america. i'd buy it, you know, if america was a publicly-traded company, i'd buy the stock every day. this country and this economy is tremendously resilient. and one of the great things, i think, about our book is it's got ideas that require action in washington, it's also at state level, individual level and there's some business and corporate level. so, you know,...
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Dec 28, 2012
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for greece as a whole, it means that and more. the headlines are about finance ministers, debt deals, austerity measures. but it's become clear that he problem here in greece now goes well beyond just the economy. as a recent european commission report says: after years of weak growth, the crisis is now having severe social consequences. look up and you still see the ancient acropolis, symbol of a glorious past. and some parts of the city bustle with holiday energy. but not far away: closed-up storefronts. and, further below the surface, this: a health clinic set up by the greek branch of the international aid group, doctors of the world to serve the country's newly poor. dr. nikitis kanakis is its director. >> brown: kanakis group, in fact, had to cut back some of its work in africa because of the needs at home. here in perama, unemployment tops 50% as the shrinking economy has crippled much of the local shipping industry. at the same time, the deeply indebted greek government has made dramatic budget cuts, including to health be
for greece as a whole, it means that and more. the headlines are about finance ministers, debt deals, austerity measures. but it's become clear that he problem here in greece now goes well beyond just the economy. as a recent european commission report says: after years of weak growth, the crisis is now having severe social consequences. look up and you still see the ancient acropolis, symbol of a glorious past. and some parts of the city bustle with holiday energy. but not far away: closed-up...
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Dec 29, 2012
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this year everything in greece changes. after the crunch down on the greek people, making them pay for a crisis they had nothing to do with, making them a for bailing out the richest folks in greece, etc. the greek people did what no one thought they would. in the last two elections, a majority of greek people did not vote for either of those parties. try to understand what it would mean if a majority of americans voted for night of the republicans or democrats. in the last election the two major parties of greece, new democracy and the socialist party together got under 40% of the vote. and the explosive new party is a party that is a far left wing party that is against all austerity programs and wants to solve greece's problems by taking wealth away from the traditional greek ridge. this is a party that until this year didn't get more the 2% or . this is a party that until this year didn't get more the 2% or 3% of thech . this is a party that until this year didn't get more the 2% or 3% of the. this is a party that until
this year everything in greece changes. after the crunch down on the greek people, making them pay for a crisis they had nothing to do with, making them a for bailing out the richest folks in greece, etc. the greek people did what no one thought they would. in the last two elections, a majority of greek people did not vote for either of those parties. try to understand what it would mean if a majority of americans voted for night of the republicans or democrats. in the last election the two...
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Dec 27, 2012
12/12
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similarly in greece. so, you had executives coming to greece, bribing politicians. the greek government -- they did not listen. then 2008. the conservative prime minister, he is not a stupid man. he was a terrible prime minister, but he is not a stupid man. you know what he did? he bailed out. he has not spoken since. he affectively called for a general election. he did not contest it. it was much worse than obama's first debate. he appeared before them and was like "don't vote for me." he lost that election. he did not have to call for that election. he called for it to lose it, to stay at home. he has not spoken since. he is having a nice holiday. and then there was papandreou. i was an advisor up until 2006. so i am not to blame. who was a 2006. -- who unfortunately, he did not see the crisis of the eurozone collapsing. the eurozone had no foundation. there was an earthquake. it starts unraveling with greece. now, let's say between 1995 and 2008 god and his angels descended on an athens and ran the show. with rationality, omniscience, ethos, and morality. greece
similarly in greece. so, you had executives coming to greece, bribing politicians. the greek government -- they did not listen. then 2008. the conservative prime minister, he is not a stupid man. he was a terrible prime minister, but he is not a stupid man. you know what he did? he bailed out. he has not spoken since. he affectively called for a general election. he did not contest it. it was much worse than obama's first debate. he appeared before them and was like "don't vote for...
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Dec 5, 2012
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check out greece. that's what happens when a country avoids making tough fiscal decisions for too long. >>> a top republican pollster about what went wrong on their side. a lot of information coming here and why if republicans don't change the way they do business they may be on the losing end of elections for years to come. plus, the black helicopter crowd is at it again. republicans in the senate reject a united nations treaty to ban discrimination against the disabled. they say it would allow u.n. officials to come into this country and force home-schooled children into government-run, that is public schools. senator john kerry joins us to cut through the nonsense. >>> also tonight, the simpson's mr. burns gives usña rich man' look at the fiscal cliff. >> think of the economy as a car and the rich man is the driver. if you don't give the driver, he'll drive you over a cliff. >> that's an aside show and this is "hardball," the place for politics. two years ago, the people of bp made a commitment to
check out greece. that's what happens when a country avoids making tough fiscal decisions for too long. >>> a top republican pollster about what went wrong on their side. a lot of information coming here and why if republicans don't change the way they do business they may be on the losing end of elections for years to come. plus, the black helicopter crowd is at it again. republicans in the senate reject a united nations treaty to ban discrimination against the disabled. they say it...
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Dec 26, 2012
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greece downgraded deeper into junk." tcr stash cash beneath the mattress, pack the trunk. will drachmas creep where euros fear to tread? if you believe the headlines, then we're sunk. a crisis that lasts for years? call it a funk. austerity starves the more its maw is fed, and downgrades all our deepest bonds to junk. every politician is a punk-- the right, the left; the blue, the green, the red; ministers in cahoots with the odd monk. we've lost our marbles. elgin took a chunk. caryatids, gone on strike, sit down instead. tear gas lingers like a whiff of skunk.e' weep, pericles, or maybe just get drunk.n we'll hawk the parthenon to buy our bread. if you believe the headlines, then we're sunk. greece downgraded deeper into junk."ng >> brown: if these are interesting times in greece, where you can see a man crawling into a recycling bin to cartco away newspapers he'll sell for a pittance, and, of course, the weekly, sometimes daily, protest by various government workers, well, titos patrikios is a man who knows interestin
greece downgraded deeper into junk." tcr stash cash beneath the mattress, pack the trunk. will drachmas creep where euros fear to tread? if you believe the headlines, then we're sunk. a crisis that lasts for years? call it a funk. austerity starves the more its maw is fed, and downgrades all our deepest bonds to junk. every politician is a punk-- the right, the left; the blue, the green, the red; ministers in cahoots with the odd monk. we've lost our marbles. elgin took a chunk. caryatids,...
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Dec 13, 2012
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greece is buying back bonds. it exceeds the 30 billion euro target. greece had been seeking investors willing to accept at 30 to 40% of the bond's face value. the program is designed to reduce the debt burden. analysts estimate greece will be able to shave about 20 billion euro's off its debt. this will clear the way for greece to receive a new infusion of more than 43 billion euros in aid from the eu and other principal lenders. the organization of petroleum export and countries held a general meeting in vienna yesterday. representatives of the 12 oil exporters agreed to retain the current production target of 30 million barrels a day. they say supply is sufficient and prices are appropriate for the moment. prices in new york of benchmark crude futures have been relatively stable since the summer at just around $85 a barrel. this is against a background of slower economic recovery. opec expects demand for crude to rise as the dploe ball economy picks up. some analysts say opec could consider cutting output. here is a check on markets. >>> nhk special
greece is buying back bonds. it exceeds the 30 billion euro target. greece had been seeking investors willing to accept at 30 to 40% of the bond's face value. the program is designed to reduce the debt burden. analysts estimate greece will be able to shave about 20 billion euro's off its debt. this will clear the way for greece to receive a new infusion of more than 43 billion euros in aid from the eu and other principal lenders. the organization of petroleum export and countries held a general...
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Dec 30, 2012
12/12
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in the end, the you chose not to abandon them, but greece continues to have to make drastic cuts, leaving marks that are visible throughout the country, including a long one of the world's most famous routes -- along one of the world's most famous routes. ♪ >> at precisely 42,195 meters long, this is the route that has become the standard for all marathon runners. the course was inspired by a 2500-year old myth, only today it is run on asphalt along with the capital's main roads. this is the bay where it said the lenda battle took place in 490 bc. it marked the first greek victory over the persians. according to legend, the athenian warriors gathered in a phalanx formation and managed to fight off a persian invasion. then a messenger ran the 42- kilometer distance to athens with news of the victory. at the local museum, the marathon's legacy is omnipresent. more modern-day hellenistic heroes have also been demoralize here. for instance, marathon runner who won the first olympic marathon in 1896. >> exactly like the car which they gave to the winner. >> at the eight-kilometer mark, there
in the end, the you chose not to abandon them, but greece continues to have to make drastic cuts, leaving marks that are visible throughout the country, including a long one of the world's most famous routes -- along one of the world's most famous routes. ♪ >> at precisely 42,195 meters long, this is the route that has become the standard for all marathon runners. the course was inspired by a 2500-year old myth, only today it is run on asphalt along with the capital's main roads. this...
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i think there are a considerable number of people who would like to cut greece loose at this juncture a because it's probably the most humane thing to do but second of all because ultimately the greek government has simply field to do anything that has really been supposed to do in terms of privatization and so on many times it's enacted legislation but failed to follow through the taxation system in greece is broken all of these sorts of horrible things lead us to the fact that greece is governed in a third world fashion at the moment not in a first world fashion and that ultimately is causing a huge amount of frustration with a great many e.u. finance ministers some of them because they've got lots of money such as say germany and poland and so on some of them because they've actually taken their medicine the poor irish twenty five thousand people on the streets of dublin at the weekend complaining about your stereotype medicine they've had to get annoyed they're hearing that the greeks are going to get all manner of concessions in order to be allowed to get through the next hurdle
i think there are a considerable number of people who would like to cut greece loose at this juncture a because it's probably the most humane thing to do but second of all because ultimately the greek government has simply field to do anything that has really been supposed to do in terms of privatization and so on many times it's enacted legislation but failed to follow through the taxation system in greece is broken all of these sorts of horrible things lead us to the fact that greece is...
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year together they'll need around twenty seven in euros worth of those to stay afloat but greece has been relying on international bailout funds since twenty ten and has economists in a pool a success it's ordinary greeks who are bearing the brunt of the bank's losses the loans on which. this recapitalization a bank sector is going to take our come from the troika the e.u. the i.m.f. and the e.c.b. and they are going to be aid they're going to be part of the greek it national debt which is going to be paid by the greek taxpayer and we had forty thousand small businesses closing this year alone three hundred additional thousands of job losses as a total unemployment rate of twenty six percent so we have really. on the one hand austerity on the other hand bank inability to provide liquidity for the market greece may be preparing for another year of painful cuts and tax hikes but for a while the outer con where the global economy stands at the end of twenty twelve you can tune into the kaiser report later today here in arctic. it's five years since the beginning of the global financial
year together they'll need around twenty seven in euros worth of those to stay afloat but greece has been relying on international bailout funds since twenty ten and has economists in a pool a success it's ordinary greeks who are bearing the brunt of the bank's losses the loans on which. this recapitalization a bank sector is going to take our come from the troika the e.u. the i.m.f. and the e.c.b. and they are going to be aid they're going to be part of the greek it national debt which is...
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german frustration grows as taxpayers see more money heading to debt ridden greece all that still to come this hour. at least fifteen people have been killed and more than thirty injured in the syrian city of homes i wouldn't says say there are were two separate car bomb attacks near a mosque and a stadium many of the injured are still in critical condition and the death toll is likely to rise this comes amid reports of syrian warplanes have hit rebel targets in the suburbs of damascus fighting between militias and regime troops has been raging in the area from around the month. this week or some video i emerged apparently showing the execution of ten prisoners by syrian rebels one of the gunmen is heard referencing an al qaeda linked group behind several terrorist attacks in the country in the meantime syria has experienced two nation wide communications blackout the opposition accused the assad government of staging an information blockade but news analyst patrick says it primarily benefit those backing the rebel militias the move massive problem again with syria we've had this pro
german frustration grows as taxpayers see more money heading to debt ridden greece all that still to come this hour. at least fifteen people have been killed and more than thirty injured in the syrian city of homes i wouldn't says say there are were two separate car bomb attacks near a mosque and a stadium many of the injured are still in critical condition and the death toll is likely to rise this comes amid reports of syrian warplanes have hit rebel targets in the suburbs of damascus fighting...
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Dec 31, 2012
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a much smaller number have made their way to greece. this report from lesbos just off the coast of turkey. >> the immigrants who wash ashore on the greek islands are now struggling with their first european winter. they are somalis, afghanistan annies, and, increates -- increasingly, syrians. all at a camp run by volunteers who provide food and shelter the this is ahmed, who has just arrived from aleppo with a vague plan to find his brothner athens. >> our life is destroyed in syria. we cannot stay in syria. the war airplanes float in the sky and bombing the houses, we cannot stay in syria. >> the turkish mainland is not far behind me. it's not far away but the journey is very dangerous. the boats supplied by people smugglers are often old and in bad condition, and at this time be year the seas could be very rough. not everyone makes it across. these were afghanis. more than 20 drowned. here is the only survivor, who was fished half-dead and freezing cold out of the sea by greek coast guards. now trying to call friends and family to tel
a much smaller number have made their way to greece. this report from lesbos just off the coast of turkey. >> the immigrants who wash ashore on the greek islands are now struggling with their first european winter. they are somalis, afghanistan annies, and, increates -- increasingly, syrians. all at a camp run by volunteers who provide food and shelter the this is ahmed, who has just arrived from aleppo with a vague plan to find his brothner athens. >> our life is destroyed in...
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years the demand for austerity is precisely the reason that youth unemployment as you said in greece is now around fifty percent and approaching similar levels in much of the rest of southern europe it's the e.u. this being the problem here it's not being part of the solution in any way just one is about significance in to what is this president's been saying does it perhaps suggest there are political cracks in brussels here we have a top official being openly critical of the rest of europe. i mean there are always political cracks in brussels and across europe you have a group of countries that will agree on some things but won't agree on everything and when you start to push them together when they start to end up in a deep economic crisis it's also a crisis of institutions of course they start to squabble and that's what we've seen over the last few years no real agreement on what to do next because everyone has their own somewhat divergent interests and that's germany doesn't want to carry the can for failing greek banks greece doesn't understandably necessarily want to interrup
years the demand for austerity is precisely the reason that youth unemployment as you said in greece is now around fifty percent and approaching similar levels in much of the rest of southern europe it's the e.u. this being the problem here it's not being part of the solution in any way just one is about significance in to what is this president's been saying does it perhaps suggest there are political cracks in brussels here we have a top official being openly critical of the rest of europe. i...
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seeing the decisions that are made here in journey but the effects that they have on countries like greece who would sound in athens where in thessaloniki where we've witnessed the. decisions that are made by the most successful eurozone countries what they're having on the poorer countries like greece like italy like spain and the well unfortunate results of the financial crisis on every day people you're reporting from a lot of think of this let's just recall what happened in grace witnessed didn't it the worst civil unrest in europe by far how has life changed for the greeks in twenty twelve. yes we have seen some serious changes to the lifestyle of the every day greek i think one of the most poignant moments of it really was we went to a an orphanage in thessaloniki and we were talking to the organizers the who run the charity that runs they say this over there they were saying this. twelve months ago eighteen months ago the vast majority of people who were the children that were coming to them were they would be an orphan they may perhaps have been abused and now the vast majority of
seeing the decisions that are made here in journey but the effects that they have on countries like greece who would sound in athens where in thessaloniki where we've witnessed the. decisions that are made by the most successful eurozone countries what they're having on the poorer countries like greece like italy like spain and the well unfortunate results of the financial crisis on every day people you're reporting from a lot of think of this let's just recall what happened in grace witnessed...
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melissa: some shocking news out of greece now. uninnded consequence of its 2 dal billion euro health care debt is making it nearly impossible for hospitals touy basic supplies like gloves, syringes, letalone crucial medications. on top of that massive layoffs mean fewer doctors and nurses are treating more patients. the severe lack of medical supplies is making much more easy for disease to spread especially from a country whose main industry is tourism. we have lee vinokur from louisiana university shreveport. thanks for joining us. >> my pleasure. melissa: how serious of a problem is this? >> it is a true greek tragedy because the greeks were somewhat responsible. at one point their health care system covered evybody for everything, the most expensive medicines. it was 10% of their gdp. and then the imf put them on strict austerity. they had a huge debt. they were borrowing a lot to cover medications and such. and the austerity budget really cut back to the point where kids an't getting vaccinated now. there is no vaccinations.
melissa: some shocking news out of greece now. uninnded consequence of its 2 dal billion euro health care debt is making it nearly impossible for hospitals touy basic supplies like gloves, syringes, letalone crucial medications. on top of that massive layoffs mean fewer doctors and nurses are treating more patients. the severe lack of medical supplies is making much more easy for disease to spread especially from a country whose main industry is tourism. we have lee vinokur from louisiana...
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greece downgraded deeper into junk." >> brown: if these are interesting times in greece, where you can see a man crawling into a recycling bin to cart away newspapers he'll sell for a pittance, and, of course, the weekly, sometimes daily, protest by various government workers, well, titos patrikios is a man who knows interesting times. >> interesting and difficult. but perhaps every interesting time is also a very difficult time, because easy times are not interesting perhaps. >> brown: a poet and elder statesman of greek letters, he's seen many of the hardships and horrors of greek history in the 20th century, including the german occupation in world war ii. >> here is athens during the occupation. a street in the center of athens, against the occupation. >> brown: so this was part of your life? >> somewhere back there, i'm in the crowd. >> brown: even more devastating, he says, was the greek civil war that followed, one that led to his own captivity and torture on an island prison. so you've seen much worse? >> i give always this example: that during the winter of 1940 to '41, every
greece downgraded deeper into junk." >> brown: if these are interesting times in greece, where you can see a man crawling into a recycling bin to cart away newspapers he'll sell for a pittance, and, of course, the weekly, sometimes daily, protest by various government workers, well, titos patrikios is a man who knows interesting times. >> interesting and difficult. but perhaps every interesting time is also a very difficult time, because easy times are not interesting perhaps....
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similarly in greece. so, you had executives coming to greece, bribing politicians. the greek government -- they did not listen. then 2008. the conservative prime minister, he is not a stupid man. he was a terrible prime minister, but he is not a stupid man. you know what he did? he bailed out. he has not spoken since. he affectively called for a general election. he did not contest it. it was much worse than obama's first debate. he appeared before them and was like "don't vote for me." he lost that election. he did not have to call for that election. he called for it to lose it, to stay at home. he has not spoken since. he is having a nice holiday. and then there was papandreou. i was an advisor up until 2006. so i am not to blame. who unfortunately, he did not see the crisis of the eurozone collapsing. the eurozone had no foundation. there was an earthquake. it starts unraveling with greece. now, let's say between 1995 and 2008 god and his angels descended on an athens and ran the show. with rationality, omniscience, ethos, and morality. greece would not have been
similarly in greece. so, you had executives coming to greece, bribing politicians. the greek government -- they did not listen. then 2008. the conservative prime minister, he is not a stupid man. he was a terrible prime minister, but he is not a stupid man. you know what he did? he bailed out. he has not spoken since. he affectively called for a general election. he did not contest it. it was much worse than obama's first debate. he appeared before them and was like "don't vote for...
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>> i put greece out on its own because the magnitude of the downturn in greece has been phenomenal. it's had six recessive years. the loss of income is of the order of 20% to 30% on average. we've had nothing like that in this country. we're almost due to be back next year to where we were in 2007. it's not as though we've had a massive loss of income. so that's a fundamental loss of explanation. there are also cultural differences in some countries there is more of a tradition of having riots. if for instance, you contrast ireland and spain very similar pathologists a problem leading to the downturn. in ireland there were muted protest. in spain we've seen that the indignants have been on the streets of madrid since 2010. these are the sorts of differences that are the result of different cultural attitude to what's going on. >> it is a different cultural thing in history than people have done in the past? >> you would add to that that in spain they got use to a never-ending prosperity. in a decade prior to 2007, spain had been the booming economy of europe. at one stage during the
>> i put greece out on its own because the magnitude of the downturn in greece has been phenomenal. it's had six recessive years. the loss of income is of the order of 20% to 30% on average. we've had nothing like that in this country. we're almost due to be back next year to where we were in 2007. it's not as though we've had a massive loss of income. so that's a fundamental loss of explanation. there are also cultural differences in some countries there is more of a tradition of having...
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s&p raised greece's credit rating on tuesday from selective default to b-minus. the new rating is still low and not suited to investment, but s&p officials say the outlook is stable. the greek government bought back sovereign bonds from commercial banks and the private sector earlier this month at prices lower than the face value. s&p officials praised the euro zone members' decision to provide greece with financial support. they say the upgrade reflects s&p's view that greece's neighbors are serious about keeping the country in the eurozone. >>> back here in japan the trade deficit came to about $11.3 billion in november, posting a red for a fifth month in a row. finance ministry officials say the figure is a record high for november. that's the third highest level since comparable records became available back in 1979. exports fell by 4.1% from a year earlier in yen terms. exports have fallen six months in a row. ships and autos led the drop. meanwhile, imports rose by .8% from a year earlier. that was due mainly to increases in telecom equipment and liquefied
s&p raised greece's credit rating on tuesday from selective default to b-minus. the new rating is still low and not suited to investment, but s&p officials say the outlook is stable. the greek government bought back sovereign bonds from commercial banks and the private sector earlier this month at prices lower than the face value. s&p officials praised the euro zone members' decision to provide greece with financial support. they say the upgrade reflects s&p's view that greece's...
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what does greece have? they have a lot longer fuse than a time bomb. >> still a telling comparison quarterback nevertheless. coming up on "worldwide exchange," don't go anywhere. in an exclusive interview, jean-claude trichet tells stephane pedrazzi why markets need to be more upbeat. >>> take a look at samsung shares. they are down. sherry, what's going on? >> hi, kelly. investors were worried about news that eu regulators are getting ready to accuse samsung electronics of breaking competition rules when it filed its patent lawsuits against rival apple. now, the commission is saying samsung should have tried to license its patents on fair, reasonable and nondiscriminatory terms before launching any sales claims against apple and this may explain why apple dropped those claims earlier this week. now, the eu's probe has been underweight since january. many analysts say the eu's move had been spented. samsung's withdraw came on the heels of a california judge's refusal to block sales of dozens of samsung's mo
what does greece have? they have a lot longer fuse than a time bomb. >> still a telling comparison quarterback nevertheless. coming up on "worldwide exchange," don't go anywhere. in an exclusive interview, jean-claude trichet tells stephane pedrazzi why markets need to be more upbeat. >>> take a look at samsung shares. they are down. sherry, what's going on? >> hi, kelly. investors were worried about news that eu regulators are getting ready to accuse samsung...
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german lawmakers overwhelmingly back giving greece its next pay out in the week vital to keeping the country from sliding into bankruptcy now means than athens can pay wages bills this month he approved package involves among other things slashing interest rates and releasing more cash chancellor angela merkel acknowledged the weariness of germans in further aiding greece but insisted the measures help to bring stability to the euro zone investment advisor patrick says germans are the only ones for the state of the greek government. i think there are a considerable number of people who would like to cut greece loose at this juncture a because it's probably the most unique in thing to do but second of all because ultimately the greek government has simply field to do anything that it has really been supposed to do in terms of privatization and so on and many times it's enacted legislation but feel to follow through the taxation system in greece is broken all of these sorts of horrible things lead us to the fact that greece is governed in a third world fashion at the moment not in a fi
german lawmakers overwhelmingly back giving greece its next pay out in the week vital to keeping the country from sliding into bankruptcy now means than athens can pay wages bills this month he approved package involves among other things slashing interest rates and releasing more cash chancellor angela merkel acknowledged the weariness of germans in further aiding greece but insisted the measures help to bring stability to the euro zone investment advisor patrick says germans are the only ones...
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government it would make us look like greece tomorrow. instead, they are in like netherland so stuff like this happens. >> we're beginning to look like greece right now. but some things have improved. prices have gone up but that is supply and demand issue. supply is way down so delinquency rights are still very high. >> this is biggest government stimulus program of all. people forget, this stimulus, five trillion bucks. the president is rallying about fat cat bay but they were exempt from dodd-frank. they basically dominate the mark 90% of the mortgage market. they've got government backing. they don't have to compete. they don't have to out perform. they make more money than the government overseer, that is doing their job. you have directors there making millions of dollars. we should have reined them in long time ago. >> there was a ignite named franklin rains, he made $90 million back during his reign and they gave out $45 million in bonuses. these organizations have a bad history. >> they got a bad history. we have always known tha
government it would make us look like greece tomorrow. instead, they are in like netherland so stuff like this happens. >> we're beginning to look like greece right now. but some things have improved. prices have gone up but that is supply and demand issue. supply is way down so delinquency rights are still very high. >> this is biggest government stimulus program of all. people forget, this stimulus, five trillion bucks. the president is rallying about fat cat bay but they were...
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you think would be the specific solution how do you think that should be tackled specifically with greece you know the issue that's on everyone's agenda right now what do you think is the best solution in that particular case it does seem like somebody would have to take the loss who do you think it should be clearly the very significant problems in the greek economy and a lot of progress has been made there are a number of adjustments that have to be made i think it's also worth for greece is pretty small part of the group in terms of its economic significance. but it's important actually whether it's greece or any other country that the that the market is internationally competitive most importantly so you could do is constantly benchmarking its competitiveness against the wider world because we live in a globalizing. market where you can as it were opt out of looking out whether you are competitive or not on a global scene where you're seeing the rise of faster growing markets including russia which is why i'm here because the opportunities for british businesses i mentioned before the
you think would be the specific solution how do you think that should be tackled specifically with greece you know the issue that's on everyone's agenda right now what do you think is the best solution in that particular case it does seem like somebody would have to take the loss who do you think it should be clearly the very significant problems in the greek economy and a lot of progress has been made there are a number of adjustments that have to be made i think it's also worth for greece is...
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now let's follow up some more news tonight greece has ground to a halt with public sector workers walking out of their jobs in the twenty four hour nationwide strike aimed at putting pressure on the government over tough cuts recent good news such as the latest tranche of bailout cuts and a decision by the ratings agency standard and poor's to raise the country's credit rating has done little though to dissipate public anger crisis strategists gonzalo lira says neither piece of news is a tangible benefit to the struggling population. the fact that the ratings agencies you know a higher rating to be green bombs and yet there's a strong indicator what's happened with that right now the international community i haven't asked that you see the m.d.c. have towards austerity which makes investors happy but of course makes the people angry and so you know see this strike going on and people a lot of people get very upset in greece while the best community is relatively happy because you know there is more greater safeguards that their money is going to be returned to them in the form of bonds so
now let's follow up some more news tonight greece has ground to a halt with public sector workers walking out of their jobs in the twenty four hour nationwide strike aimed at putting pressure on the government over tough cuts recent good news such as the latest tranche of bailout cuts and a decision by the ratings agency standard and poor's to raise the country's credit rating has done little though to dissipate public anger crisis strategists gonzalo lira says neither piece of news is a...
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some my eurozone members and habitable at this point you know so you know so you don't believe that greece is going to leave the euro zone in the near future but no i don't i think the years i will find its way through to a stable resolution in which the financial system is robust which only which growth will slowly build up but this does require addressing some particular issues about competitively of different markets and how do you think that should be addressed i think it will be a matter of slow. adjustment of a number of different economic regions and it's important that those issues are addressed so what do you think would be the specific solution how do you think that should be tackled specifically with greece you know the issue that's on everyone's agenda right now. what do you think is the best solution in that particular case and does seem like somebody would have to take the loss who do you think it should be clearly the very significant problems in the greek economy and a lot of progress has been made there are a number of adjustments that have to be made i think it's also wor
some my eurozone members and habitable at this point you know so you know so you don't believe that greece is going to leave the euro zone in the near future but no i don't i think the years i will find its way through to a stable resolution in which the financial system is robust which only which growth will slowly build up but this does require addressing some particular issues about competitively of different markets and how do you think that should be addressed i think it will be a matter...
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for greece if it's requested i think. you know. nobody knows for sure how much money. we all know how much money we are. approaching believe the amount of money but. what is a big figures we're talking about isn't it i mean international creditors have recently approved another tranche of aid for greece which comes at a high price for the country's population while struggling greeks now bear the brunt of the bank's losses do you think. we had a few technical problems there we just lost our guest but of course try and get hold of it later. ok well let's move on now with britain preparing to pull its troops out of afghanistan the u.k. is counting its losses in more ways than one when the full one hundred british soldiers have been killed in a war which has so far cost the government a tremendous seventeen billion pounds and artie's a explains the sum is raising a few eyebrows especially with austerity cuts being felt at home. seventeen billion pounds the british government has just revealed that that's been the cost of the so far eleven here war in afghanistan now it was
for greece if it's requested i think. you know. nobody knows for sure how much money. we all know how much money we are. approaching believe the amount of money but. what is a big figures we're talking about isn't it i mean international creditors have recently approved another tranche of aid for greece which comes at a high price for the country's population while struggling greeks now bear the brunt of the bank's losses do you think. we had a few technical problems there we just lost our...
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for greece's largest banks securing up for a bailout to stop reporting huge losses this year together the leader on twenty seven billion euros worth of loans to stay afloat greece has been relying on international bailout fund since twenty ten and there's economies dimitrius you're not. greeks are bearing the brunt of the banks losses. the loans on which. this recapitalization of the banking sector is going to decrease are coming from the the troika the e.u. the i.m.f. and the e.c.b. and they are going to be a they're going to be part of the and big national debt which is going to be paid by the taxpayer and we had forty thousand small businesses closing closing this year alone three hundred additional thousands of job losses as a total unemployment rate of twenty six percent so we have really. on the one hand austerity on the other hand bank inability to provide liquidity for the market greece move appearing for another year of painful cuts and tax hikes but for a wider a look at where the global economy stands in the end the twenty twelve we avoid it into the kaiser report next hour
for greece's largest banks securing up for a bailout to stop reporting huge losses this year together the leader on twenty seven billion euros worth of loans to stay afloat greece has been relying on international bailout fund since twenty ten and there's economies dimitrius you're not. greeks are bearing the brunt of the banks losses. the loans on which. this recapitalization of the banking sector is going to decrease are coming from the the troika the e.u. the i.m.f. and the e.c.b. and they...